About this product

Description

2010 Reprint of 1936 edition. Full fledged Facsimile of original first U.S. edition. No changes or omissions from the original format. The General Theory of Employment, Interest and Money is generally considered to be Keynes' magnum opus, and is largely credited with creating the termilogy and shape of modern macroecomics. Published in February 1936 it sought to bring about a revolution, commonly referred to as the Keynesian Revolution, in the way ecomists thought - especially in relation to the proposition that a market ecomy tends naturally to restore itself to full employment after temporary shocks. Regarded widely as the cornerstone of Keynesian thought, the book challenged the established classical ecomics and introduced important concepts such as the consumption function, the multiplier, the marginal efficiency of capital, the principle of effective demand and liquidity preference.